The Member completed personal Canadian tax returns for a client. The client made over-contributions to their Registered Retirement Savings Plan and needed to take action and make filings (T1-OVP) with the Canada Revenue Agency (CRA) to correct the over-contributions. The Member:
a) Initially failed to file the T1-OVP, resulting in taxes, penalties and interest being charged to the client;
b) Later filed the T1-OVP which CRA did not receive. The Member did not keep a copy of the T1-OVP which was filed;
c) Failed to advise the client to rectify the over-contributions and the potential tax consequences for not doing so; and
d) Failed to return repeated client communications.
The Investigation Committee determined the Respondent contravened the CPABC Code of Professional Conduct as follows:
201. - Maintenance of the good reputation of the profession
202.1 - Integrity and due care
205 - False or misleading documents and oral representations
218 - Retention of documentation and working papers
The Committee recommended the Member:
- Accept a reprimand; and
- Pay expenses of $3,051 plus GST.